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Highmark reports midyear revenue of $12.9B, net loss of $174 million

Highmark Health leaders reported $12.9 billion in total revenue at the Pittsburgh-based company, with operating gains of $387 million but a net loss of $174 million.
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BUFFALO, N.Y. — With a strong focus on “weathering the storm,” Highmark Health leaders Aug. 30 highlighted operating gains and membership growth in the company's midyear performance update, reporting $12.9 billion in total revenue at the Pittsburgh-based company, with operating gains of $387 million but a net loss of $174 million.

Those totals include the Buffalo-based operations of Highmark Western and Northeastern New York, formerly known as HealthNow New York, which reported revenue of $1.65 billion, up from $1.5 billion in the first two quarters, with improvements to its operating margin from -2% to -0.6%.

Though membership continues to grow and operations remain strong, the company is suffering from familiar challenges: staffing issues, inflation and supply chain shortages, as well as an underperforming stock market.

Read the full story from our partners at Buffalo Business First.

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